MGR FY 2014 Earnings Report — Affiliated Managers Group, Inc. Revenue & Financial Results | Market Cap Arena

Affiliated Managers Group, Inc.MGR

FY 2014 Earnings

Reported February 23, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$2.5B	—	$2.2B	—	14.7%
Op. Income	$815M	—	$634M	—	28.6%
Gross Margin	59.0%	—	56.7%	—	2.2pp
Net Margin	17.3%	—	16.5%	—	0.8pp
EPS (Diluted)	$7.43	—	$6.36	—	16.8%
Free Cash Flow	$1.4B	—	$933M	—	51.9%

Revenue Flow

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$486M
Other Expenses	$0
Operating Expenses	$402M
Cost & Expenses	$1.4B
OPERATING INCOME	$815M
Interest Income	$0
Interest Expense	$77M
Other Income/Expenses	$198M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$246M
Net Income from Continuing Ops	$767M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$434M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$434M
D&A	$139M
EBIT	$815M
EBITDA	$954M
EPS	$8
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$486M
Other Expenses	$0
Operating Expenses	$402M
Cost & Expenses	$1.4B
OPERATING INCOME	$815M
Interest Income	$0
Interest Expense	$77M
Other Income/Expenses	$198M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$246M
Net Income from Continuing Ops	$767M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$434M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$434M
D&A	$139M
EBIT	$815M
EBITDA	$954M
EPS	$8
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$434M
Depreciation & Amortization	$139M
Stock-Based Compensation	$114M
Deferred Income Tax	$63M
Other Non-Cash Items	$730M
Change in Working Capital	$20M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$19M
Acquisitions (Net)	$0
Purchases of Investments	-$21M
Sales/Maturities of Investments	$17M
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$740M
Common Stock Repurchased	-$191M
Common Dividends Paid	$0
Other Financing Activities	-$669M
NET CASH FROM FINANCING	-$78M
FREE CASH FLOW	$1.4B
Net Change in Cash	$81M

Balance Sheet

Item	Amount
Cash & Equivalents	$551M
Short-Term Investments	$173M
Net Receivables	$426M
Inventory	$0
Other Current Assets	$21M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$95M
Goodwill	$2.7B
Intangible Assets	$1.8B
Long-Term Investments	$2.0B
Tax Assets	$492M
Other Non-Current Assets	-$441M
TOTAL NON-CURRENT ASSETS	$6.5B
TOTAL ASSETS	$7.7B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$60M
TOTAL CURRENT LIABILITIES	$579M
Long-Term Debt	$1.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$936M
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$3.4B
Common Stock	$600.0K
Additional Paid-In Capital	$672M
Retained Earnings	$2.2B
Treasury Stock	-$241M
Accum. Other Comp. Income	$32M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$1.7B
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$7.7B
Total Debt	$1.9B
Net Debt	$1.3B